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Oct04

CLARENVILLE TRIP A BUST!

Categories // Rod's Thoughts

CLARENVILLE A BUST!
Just back from 2 days of setting up at the Clarenville Inn in Clarenville and a break-even trip at best. We did buy 3 vintage 20 ounce silver bars a couple of Olympic sets and a few American $5 golds. Best item purchased was a 1912 Bank of Nova Scotia $5 note in VF condition , I have only seen a couple of these offered for sale in the last 5 years. We have it listed on eBay right now. I`m starting to think that the days of setting up at Hotels to buy coins and collectibles has run its course for a few years. It’s a classic case of too many people getting into the market. This Fall, in St. John`s alone there has been gold buyer after gold buyer setting up and the Canadian Coin Association, just left town after being set up for a full month, now we have the Great Canadian Roadshow back (I think these are the same group). You know its getting glutted when you see your local convenience stores and the local fish and chip stands buying gold. I actually find business improves when the mainland companies are in town because people dig their coins out and many insist on getting a couple of different quotes before selling. I`ve never had anyone leave the store with their coins after having an offer from these travelling mainland shows – their costs are just too high so they need to work with huge margins – we don`t.

We still have some astute sellers who insist on knowing what they are being paid per gram but the unfortunate thing is that most people just don`t know or don`t care.
We have our tickets bought for Torex and will be at the Hilton Toronto Airport hotel on Friday October 26th and Saturday October 27th. We won’t be set up at the show but will be buying from our Suite. If you have items to sell and are in the area give us a shout. Same goes for dealers, we are the strongest buyer in Canada on bulk Newfoundland coins so if you have inventory you want to sell, please look us up.
We’ve finally completed the Canadian and Newfoundland checklists for our webpage. These have proven very popular with collectors. My favourite is the Newfoundland checklist. Only 145 coins to complete the set – remember it’s a closed set so unlike many series, there won’t be anything added each year (see Canadian quarters or half dollars). The best way to use the checklists is to save them to your desktop and print from there. A special thanks to Sam and Matt Bishop – 2 brilliant young Newfoundland Numismatists who helped complete the lists and contributed to the scarcity ratings on NFLD coins.
Well, we are full into the swing of coin season, Heritage just finished a very large auction that saw many impressive Canadian and Newfoundland coins cross the block, then the Canadian Numismatic Company had their $1 no reserve auction, last weekend Geoff Bell Auctions had their auction in conjunction with the Toronto Coin Expo and in late October the Canadian Numismatic Company will be holding the Torex Auction in Toronto. Last week at the Bell Auction, some impressive NFLD Merchant Scrip was offered. A few highlights:
1. A 50 cent James Baird Scrip in UNC 64 did not sell with an opening bid of $750 on an estimate of $1500 – $2000 I had a problem selling one of these a while back – appears the small hoard that showed up in recent years has pushed down the demand.
2. A 5 cent Grand River Pulp and Paper Scrip sold for $1100 on an estimate of $2000 – $2500 – I look for the price on these notes to decline over the upcoming years. The Grand River Pulp and Paper Company was issued a permit by the government of Newfoundland to log in Quebec Territory which triggered the Labrador Boundary Dispute which we all know led to many court battles, the end result was Newfoundland being awarded Labrador by the Privy Council in 1927.
3. A second Grand River note in 25 cent denomination was sold for $1100 on an estimate of $2000 – $2500
4. A Harbour Grace Boot and Shoe Factory Note sold for $1450 on an estimate of $2500 – $3500. This note had burnt edges as do the remaining few notes that are known. The Harbour Grace Boot and Shoe Notes later were replaced by the Archibald Boot and Shoe Factory notes of which only a few are known. Rumour has it that the original owners passed down framed sets of the notes and they remain in the Archibald family.
5. Finally, a Reid Newfoundland Railway $5 Scrip sold for a strong $2250 on an estimate of $2000 – $3000.

Overall the Bell sale highlighted an impressive collection of ancients and tokens. Newfoundland material was sparse but its hard to follow up the Spring Sale that saw a Union Bank $50 sell for $42,000 and a Union $10 and $20 sell for $20,400 each (prices include buyers premium). That sale had the most impressive offering of NFLD notes I’ve seen in a long, long time. Great job to Brian, Geoff and company.
It’s the last few days before we make our monthly draw for a free coin. This month we’ll be giving away a 2012 1 ounce pure silver maple leaf. Enter your information on the home page to make sure you have a chance at winning.
We are starting our Fall sale this coming Sunday (October 7th) on eBay and at least half the items will have 99 cent starting bids. There should be lots of opportunity to find a few bargains. Check out our ECC36 site for the sale. You can find it by clicking the “New items today” tab on the left side of the home page.
Don’t forget to sign our guestbook, we love seeing where people are logging on from.
Will give a detailed account of the Torex Auction when we get back.

Till next time,
Rod

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